Economy World

Fitch lowers ratings of several banks

(Reuters) -On Thursday the rating agency Fitch reported that it lowered the long-term credit ratings of seven major banks in Europe and the United States, highlighting the “increasing difficulties” in the financial markets.

Fitch lowered the long-term rating of Credit Suisse and Barclays by two notches, bringing it from AA-to A.

The agency cut the rating by one notch to Bank of America, BNP Paribas, Citigroup, Deutsche Bank and Goldman Sachs Group. The rating of BNP Paribas is thus reduced from AA-to A + with stable outlook.

Fitch reaffirmed the long-term rating of A + general society with a stable outlook. In his note term is held to JPMorgan Chase, Morgan Stanley and UBS.

The difficulties faced by banks in the financial markets resulting from both the economic situation and a “myriad of regulatory changes,” said Fitch in a statement.

Fitch’s decision is in response to cuts by Standard & Poor’s major banks in late November.

Moody’s has also made ​​adjustments recently.

Jerry Dubrowski, spokesman for Bank of America, whose rating was lowered by the three major agencies, said in an email: “This decision is the result of concerns about the global economy than the credit quality of specific Bank of America. We continue to maintain high levels of liquidity and provide capital. “

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